Biloxi Marsh Lands Corporation Announces Unaudited Results For The Third Quarter And First Nine Months Of 2016 And Provides Update

Biloxi Marsh Lands Corporation (PINK SHEETS: BLMC) today announces its unaudited results for the third quarter of 2016 and first nine months of 2016 and provides update.

Biloxi Marsh Lands Corporation (PINK SHEETS: BLMC) today announces its unaudited results for the third quarter of 2016 and first nine months of 2016 and provides update. The Company's revenue for the three months ended September 30, 2016 from oil and gas production for its fee lands was $27,518 compared to revenue of $49,597 for the third quarter of 2015. For the first nine months of 2016, revenue generated from the Company's fee lands decreased to $76,477 from $202,052 for the same period in 2015.

Meanwhile, dividend and interest income for the first nine months of 2016 was $95,043, compared to $110,788 for the first nine months of 2015. During the third quarter of 2016, the Company realized a cumulative gain from the sale of investment securities of $461,035 compared to a cumulative gain in the amount of $310,813 for the same period in 2015. For the first nine months of 2016, the cumulative gain from the sale of investment securities was $358,465 compared to a cumulative gain of $1,044,385 for the first nine months of 2015. During the current quarter, the Company realized a settlement gain in the amount of $95,111. For the third quarter of 2016, total revenues included a $464,317 loss from the Company's investment in B&L Exploration, LLC (B&L). This compares to a loss of $440,169 from B&L for the third quarter of 2015. Correspondingly, total revenue for the nine months ended September 30, 2016 includes a net loss of $1,312,506 generated by B&L compared to a net loss of $745,370 from B&L for the first nine months of 2015.

Expenses for the third quarter were $140,400 compared to $193,827 for the same period of 2015. Total expenses for the first nine months of 2016 and 2015 were $542,372 and $659,981, respectively. The Company had net income of $57,714 or $.02 per share for the third quarter of 2016 compared to a net loss of $122,769 or $.05 per share in 2015. Meanwhile, for the first nine months of 2016, there was a net loss of $1,020,804 or $.40 per share compared to a net loss of $5,879 or $.00 per share for the same period of 2015.